November was another strong month for startup funding in NYC. The largest round was the $150 million fund closed by advertising and marketing startup, Intersection. Below we recap five of the largest funds closed by NYC based startups in November 2017.
Yotpo – $51M
Round: Series D
Industry: Content Marketing
Investors: 8 – 2B Angels, Access Industries, Bessemer Venture Partners, Blumberg Capital, Marker, Rhodium, Vertex Ventures, Vintage Investment Partners
Company: Founded in 2011, Yotpo collects user generated content, business reviews, photos, etc. and aggregates them to establish a company’s social proof. Yotpo claims users experience between a 30-120% conversion rate when their customizable widgets are used on product pages. According to its Facebook page, Yotpo claims that to date over 200,000 companies use their service worldwide. To date, Yotpo has closed $101 million of funding.
United Masters – $70M
Round: Series A
Industry: Marketing, Music, Music Label
Investors: 3 – Alphabet, Andreessen-Horowitz, Twentieth Century Fox
Company: Founded in 2017, United Masters gives musicians a distribution partnership alternative to traditional record labels. For a nominal royalty fee, United Masters assists musicians in distributing their music online to platforms like Spotify, YouTube, and Soundcloud while allowing artists to retain ownership rights of the recording. Bolstered by the support of Google parent company Alphabet, and Twentieth Century Fox, United Masters hopes to return career control back to the artists and musicians.
Compass – $100M
Round: Series E
Industry: Real Estate, Mobile App
Investors: 3 – Fidelity Investments, IVP (Institutional Venture Partners), Wellington Management
Company: Founded in 2012, Compass is a mobile app that pairs prospective real estate buyers and sellers. With 30 offices in 9 regions, Compass caters to the luxury, high-end market. With this latest round of funding, the company now has a valuation of $1.8 billion. To date, Compass has closed $308 million of funding.
InVision – $100M
Round: Series E
Industry: Digital Product Design, UX, Mobile Apps
Investors: 7 – Accel Partners, Battery Ventures, FirstMark, Geodesic Capital, ICONIQ Capital, Spark Capital, Tiger Global Management
Company: Founded in 2011, InVision is a digital product design platform that boasts over 2 million users. According to their website, InVision is used by over 80% of the Fortune 100 companies to design their mobile apps, websites, and digital platforms. These companies include Amazon, Netflix, Starbucks, and Uber just to name a few. To date, InVision has closed $235.2 million in funding.
Intersection – $150M
Date: 11/7 Round: Series Unknown
Industry: Advertising, Marketing, Digital Media
Investors: 3 – ArrowMark Partners, Graham Holdings, NewSpring Capital
Company: Founded in 2012, Intersection provides the largest and fastest free Wi-Fi network in the world. Intersection is behind the 1,399 digital Link kiosks now in-and-around NYC that provide information services, free of charge. At present, Intersection is poised to roll-out the Link system in another 14 cities worldwide. To date, Intersection has closed $150 million of funding.